UBS Group Boosts Etsy (NASDAQ:ETSY) Price Target to $62.00

Etsy (NASDAQ:ETSY - Free Report) had its price target upped by UBS Group from $45.00 to $62.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the specialty retailer's stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler decreased their price objective on Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Evercore ISI decreased their price target on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group cut their price objective on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Finally, Canaccord Genuity Group decreased their target price on Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 28th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Etsy presently has an average rating of "Hold" and an average price target of $51.75.

Etsy Trading Up 5.4%

ETSY traded up $3.28 during trading on Monday, hitting $63.69. The company's stock had a trading volume of 7,326,226 shares, compared to its average volume of 4,371,284. Etsy has a twelve month low of $40.05 and a twelve month high of $66.18. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 3.28 and a beta of 1.74. The business's fifty day simple moving average is $54.03 and its 200 day simple moving average is $50.88.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The company had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same quarter in the previous year, the business posted $0.48 EPS. The business's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Etsy will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total transaction of $77,040.00. Following the completion of the sale, the insider directly owned 34,683 shares in the company, valued at approximately $1,781,318.88. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the transaction, the chief technology officer owned 2,896 shares of the company's stock, valued at approximately $136,140.96. This trade represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,298 shares of company stock worth $11,156,039 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in shares of Etsy by 1,066.3% during the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock worth $454,000 after purchasing an additional 8,797 shares during the period. Brooklyn FI LLC purchased a new position in Etsy in the 4th quarter valued at approximately $5,229,000. JBGlobal.com LLC raised its position in shares of Etsy by 68.2% during the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock worth $606,000 after acquiring an additional 5,206 shares in the last quarter. Natixis Advisors LLC acquired a new position in Etsy during the fourth quarter worth approximately $606,000. Finally, Intech Investment Management LLC purchased a new position in shares of Etsy in the 4th quarter valued at approximately $751,000. 99.53% of the stock is owned by institutional investors.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.